Asia Cement Corp (亞泥), Taiwan’s second-largest cement maker, fell by the biggest daily drop in two months in Taipei trading, after a report saying its Chinese unit’s initial public offering in Hong Kong completed pricing that was lower than expected.

Shares of Asia Cement fell 6.6 percent to close at NT$51.70, its largest daily drop since March 13, in Taipei yesterday.

Asia Cement (China) could raise as much as HK$2.42 billion (US$310 million) from selling 375 million new shares at prices ranging from HK$4.85 to HK$6.45 each in an initial public offering in Hong Kong to help fund its expansion plan, Asia Cement (China) said on May 4.